2010-05-11, 13:22 | Link #7161 | ||
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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Besides, the main point here isn't actually losing money or so, but rather the long term stability of the Euro as a whole : we just shifted up a little out of the subprime crisis and this Euro fiasco will surely do worse in the midst of the world economy's recovery. Right now according to currency charts, the Euro seems to be stabilising at the 1.26xx-1.27xx exchange rate, but for how long? I certainly don't want to walk out after graduation to become a NEET again! On the other note......the Euro is trading to a new low to the pound : Spoiler for big:
Funny that people who aren't amused by Aunt Angie's proposed bailout shifted their dosh to the Brits. Quote:
I do believe that there may be some unknown reason, Illuminati or not, that his theory does work. His usage of Fibonacci lines to create support and resistance levels have allowed traders to set targets in their trading plans, which made it work in favour. Also, to explain it in terms of logic would be like trying to explain why bees have weird ancestries, or why trees branch out in that manner. I could have taken interest in maths if only my academic system isn't so inclined on manufacturing straight A students. On the other note, here is an interesting editorial : Gold and the Myth of Free Markets
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Last edited by SaintessHeart; 2010-05-11 at 13:41. |
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2010-05-11, 13:42 | Link #7162 | |
Moving in circles
Join Date: Apr 2006
Location: Singapore
Age: 49
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To date, my greatest consolation is that I've lost nothing much more than opportunity: I was holding most of my cash in fixed deposits last year while the market was staging one of the sharpest recoveries of all time. If I could have seen that coming, I would probably have doubled most of my cash by January, or made at least 50% returns. I put it down to sheer complacency and the lack of a clear financial goal. It was only when I started property hunting this year that I fully realised how naive I'd been with regard to money management: I still need so much more cash in order to get any worthwhile real estate. And that was all the kick I needed to start seriously thinking about stock investment all over again (I dabbled in it half-heartedly a long time ago, back in the boom years of the mid- to late 90s). The only good advice I can give is what every other veteran repeats: Don't be greedy, and do be patient. A compounding return is your greatest friend, but that takes time — a very long time — to show up on your bank statement. |
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2010-05-11, 13:58 | Link #7163 | |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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Regarding property hunting, I thought our government set down the 1-year-before-resale rule that made property sales more difficult. However, "property" doesn't always have to be houses, like the word implies. Maybe you can buy a water fountain and earn money from it (lame joke about water intended). I was actually looking at the property bubble in China, where they overbuild and underlease (partly due to the lack of interested tenants). Funny it's still on-going, and there aren't many news about it anymore.
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2010-05-11, 14:40 | Link #7164 | ||
Moving in circles
Join Date: Apr 2006
Location: Singapore
Age: 49
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Frankly though, I'm no expert. I can share only from personal experience, which isn't the best-quality stuff out there obviously. If I were that successful, I wouldn't be wasting my time here — I'd be sipping martinis in Monaco, enjoying a date with Gwyneth Paltrow or some other celebrity At your age, and given what I think I know about your circumstances? I'd say that simply saving any cash you can spare at the moment is the best strategy. Calculate how much you need to spend every year, ie, your current expenses, and save enough to have enough cash to go without work for at least a year, if not more. You think this is easy? It wasn't only until about three years ago before I achieved this, and only after I finally got rid of my car. If you start with a very small base, which is where I'm guessing you are at the moment, it really wouldn't take much to generate big growth percentages in cash savings, provided you are disciplined and, of course, earning a regular cash income. In other words, get a job. I'm not trying to rub it in but, seriously, at this point in your life, it's the least risky way to ensure a cash income — not through forex speculation. Simply put, I'm guessing that you're currently playing with money you can't afford to lose, and your emotions will inevitably colour your decisions. Quote:
Or, put another way, I've always had expectations that I didn't want to admit. This year, I've been forced to be more honest with myself, and hence the major revision in my financial plans. They're still a work in progress. I'll tell you by the end of the year how they're panning out. Who knows what's going on in China? In any case, I live in Singapore: I'm not going to risk my money on stuff I know nothing about. Singapore's real-estate movements are giving me enough headaches, as it were. |
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2010-05-11, 18:57 | Link #7166 | |
AS Oji-kun
Join Date: Nov 2006
Age: 74
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I'm with you, though, Lynnie, in that I think political events have become a major determinant of (some) currency values at the moment. I wouldn't expect that dip in the value of the pound to persist now that a Government is in place in Westminster again, either.
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2010-05-11, 21:24 | Link #7167 | |||
Moving in circles
Join Date: Apr 2006
Location: Singapore
Age: 49
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Speaking of new governments (congrats to Tory and Lib Dem supporters in Britain):
Aquino wins Philippine elections Quote:
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Other news from South-east Asia: Suu Kyi asks for her freedom Quote:
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2010-05-12, 00:04 | Link #7168 | ||
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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I was trying to find a job the past few months that had a flexible part time hour, but since I am a student, it was all for naught. But I do admit it's bloody risky to rely my income on trading despite the overall profits being consistent. Then again, watching how the stock moves everyday seem to provide more than enough content to write in my weekly essay assignments.
Being a stay-at-home otaku isn't that bad after all. There's anime to keep me entertained and it drives my monthly expenditure to a ridiculous low (around $150 -$200) Quote:
"Sedikit sedikit, lama lama, jadi bukit" (the small things your acquire will slowly turn into a mountain). Now I know what it means. Keeping my losses small (each trade will wipe only 3% of my account), and minimum profit target to increase 6% for each win, mathematically speaking, even at a 25% win rate per month of 1 trade everyday, I can maintain at least $400 of income per month. Maths was never so fun and effective. Quote:
- USD/CHF is rising, meaning the Swiss (known for their banking industries) are willing to pump money back into the US. Probably an indication in foreign confidence in the US financial system. - EUR/USD chart is still dropping backwards, from 1.31xx high on the 5th May to the 1.26xx/1.25xx range today. Merkel's plan isn't working, but at least it buffered a support line somewhere around the latter values. - EUR/GBP is hovering at the 0.848x, a recovery from 0.846x last night. This is a new stick which is still moving, so I dare not say much, but the cash flow seems to be moving from Europe to Britain last night, while Britain is shifting the cash back into Europe slowly today. Not enough space for the credits perhaps? From all of that, I personally think news events only create temporary perception of trends, and it's still best to look at the daily charts to effectively predict an overall trend for the next few months. In the end, government/union reserves aren't hammerspaces : the flow of cash still stems from the overall valuation of physical products like property, metals, trade surpluses, etc.
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2010-05-12, 05:57 | Link #7169 | |
Desensitized
Join Date: May 2009
Location: LV-426
Age: 37
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Yet another terrible attack in China:
China children 'hacked to death' in new school attack Quote:
Unless of course, they're just trying to create the most shock by targeting the most innocent of the society that they hate. United cause or not, they're evidently deranged individuals.
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Last edited by Woopzilla; 2010-05-12 at 06:18. |
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2010-05-12, 10:25 | Link #7170 | |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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2010-05-12, 11:13 | Link #7171 | |
Asuki-tan Kairin ↓
Join Date: Feb 2004
Location: Fürth (GER)
Age: 43
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2010-05-12, 12:05 | Link #7172 | |||
Moving in circles
Join Date: Apr 2006
Location: Singapore
Age: 49
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They appear to be very serious only because media attention has temporarily put things out of proportion. And that's definitely a source of worry. I'm seeing mixed reports from various wire agencies and the BBC; they are suggesting that Chinese media have started to play down the coverage, for fear of inspiring copycat attacks. But in the previous weeks, Chinese media have apparently been discussing the attacks quite extensively, apparently out of a wellspring of genuine social concern. No one knows the reasons for the sudden rash of attacks, but there's been plenty of speculation. Excerpts from my local broadsheet: Quote:
By the way, there are many things that the mainland Chinese might typically consider "mental illness", homosexuality being one of them. Meaning to say, we're dealing with a nation that hasn't quite come to grips with the roots of many social issues, choosing instead to simply explain them away as aberrations that be fixed with medical therapy. The national culture, on the other hand, gets away scot-free, just as the state would prefer it. As for the readiness to turn to violence to discipline children, you may remember this report from three years back: Chinese boot camps tackle Internet addiction Quote:
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2010-05-12, 14:29 | Link #7173 |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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I had this classmate from China who said that the "boot camp" idea was copied from a particular SEA country, where foreign students brought back "discipline and self-control" after returning to see their parents after choosing to become citizens or becoming permanent residents of that place.
Kinda interesting to hear about that though.
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2010-05-12, 16:35 | Link #7175 |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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The issue is their lack of a humane view in their outlook for life. There's another example which a driver on the highway got out of his car and shoved a suicidal guy down as the latter was causing a traffic jam.
Not that I disputed the effectiveness of that solution, it's just that, at least make sure the cushion at the bottom is already set up. I do remember in that case, the authorities could barely get the support net up in time.
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2010-05-12, 17:49 | Link #7176 | ||
Disabled By Request
Join Date: Jan 2010
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Regardless, these people are seriously, seriously fucked up. |
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2010-05-12, 18:31 | Link #7177 | |
I disagree with you all.
Join Date: Dec 2005
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2010-05-12, 19:25 | Link #7178 | ||
Asuki-tan Kairin ↓
Join Date: Feb 2004
Location: Fürth (GER)
Age: 43
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2010-05-12, 20:45 | Link #7179 |
Sensei, aishite imasu
Join Date: Mar 2008
Location: Hong Kong Shatterdome
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In other news, it appears that the North Koreans have mastered the FUISION (...power) technique.
Spoiler for story:
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2010-05-12, 21:27 | Link #7180 | ||
Moving in circles
Join Date: Apr 2006
Location: Singapore
Age: 49
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Quote:
Needless to say, that causes severe resentment among the "have-nots". In a fairly democratic society, people can express their displeasure through elections. The Chinese, on the other hand, have no such outlet. Quote:
I have relatives in Guangdong province, and the last time I visited them in my father's hometown, I was simultaneously left in awe and disdain. I was in awe because of the huge amount of energy in the air — it was incredibly frenetic. Everyone was on the move to make money; no one appeared to dare to take a break, afraid of losing opportunities to strike rich. But I felt disdain because of how everyone appeared, at the same time, to have no regard for how they were destroying their environment. When I first visited the hometown as a kid, there were still rice paddies around the place. Now, they have all disappeared, covered over by a fast-growing, grey concrete jungle. And trash was everywhere. People littered and spit all over the place. Hygiene levels were deplorable. In short, people simply did not f*cking care, so long as they were getting ahead of each other. China operates by the law of the jungle at the moment, plain and simple. Only the strongest will survive in this massive cowboy town. |
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current affairs, discussion, international |
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